Wait for a close above 1.3306 to buy Gbp towards 1.4663 | 04 October 2017
04 October 2017, GBP/USD
Technical Observation:
Gbp is still below 1.3306 but should rise above it by the close of this week. According to the weekly chart above, Gbp could plummet slightly before eventually rising above 1.3306, but as it, I choose to remain either flat of temporarily short with it. Once the price close above 1.3306, I'll buy Gbp towards 1.4663, on the way upwards, the key lies to check for include 1.3775 and 1.4405, if these lines are broken, then a rise towards 1.4663 will be the next ideal move. If the price close below 1.3306, then I expect a drop towards 1.2733.
Technical Levels
Resistance levels
R1: 1.3531
R2: 1.3666
R3: 1.3894
Pivot
1.3438
Support Levels
S1: 1.298
S2: 1.3209
S3: 1.3303
Trade Signal
Wait for a close above 1.3306 to buy Gbp towards 1.4663
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
